Since the Falklands War, Stanley has benefited from the growth of the fishing and tourism industries in the Islands. Stanley itself has developed greatly in that time, with the building of a large amount of residential housing, particularly to the east of the town centre. Stanley is now more than a third bigger than it was in 1982.
Gypsy Cove, known for its Magellanic penguins, and Cape Pembroke, the easternmost point of the Falklands, lie nearby. Gypsy Cove is four miles (6 km) from Stanley and can be reached by taxi or on foot.
Today, roughly one third of the town's residents are employed by the government and tourism is also a major source of employment. On days when two or more large cruise ships dock in the town tourists frequently outnumber the local residents.
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